US President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, US, January 7, 2025.
Carlos Barria | Reuters
President-elect Donald Trump on Tuesday announced a $20 billion foreign investment to build new data centers across the United States.
Emirati billionaire Hussain Sajwani, a Trump associate and founder of real estate development firm DAMAC Properties, is promising “at least” that amount, the president-elect announced at his Mar-a-Lago home in Florida.
“They could go up to double or even just over double the amount of money,” Trump said of Sajwani.
Trump said the “first phase” of the plan would take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana.
Sajwani suggested that the Republican's election encouraged him to get involved in the investment.
“It was amazing news for me and my family when (Trump) was elected in November. We have waited four years to increase our investments in the (U.S.) U.S. to very large amounts,” the Dubai-based developer said in brief remarks at Mar-a-Lago.
Sajwani's promise is the latest example of a foreign business leader promising big U.S. spending in the wake of Trump's victory over the Democratic vice president Kamala Harris.
Last month Softbank CEO Masayoshi Son announced the plans invest $100 billion in America and will create 100,000 jobs over Trump's four-year term.
Trump, who takes office on Jan. 20, is trying to attract more foreign entities to do business in the U.S. by offering perks such as accelerated permitsfor those investing $1 billion or more.